Suffolk coastal estate agents Flick & Son has new ownership going into 2019, but it remains a local family-owned business.

Owner Peter Watson has acquired the shares of fellow director Chris Burrell-Saward, who is retiring after more than 50 years working in estate agency within Suffolk, including at Cobbe & Wincer, Oxborrows and L Jack Denny.

The co-directors acquired Flick & Son 24 years ago in a management buy-out from their employers, Royal Insurance Property Services, who had previously bought Flick & Son from the Flick family in 1987.

Flick & Son goes back to 1833 when it was founded by Samuel Flick, in Saxmundham. Five generations of Flicks worked in the business, and it is one of the oldest established estate agents in the whole country.

It now has branches in Aldeburgh, Halesworth, Leiston, Saxmundham and Southwold, employing around 25.

Mr Watson said: “Chris has been a significant shareholder in Flick & Son since the management buy-out in 1994 and to ensure that Flick & Son continues as an independent, family-owned practice, I am pleased to announce I have acquired Chris’ shareholding in the company to add to my own.

“This investment in the company underlines my confidence that Flick & Son will, by any measurement, continue to be the leading estate agency and property management company, on Suffolk’s Heritage Coast long into the future under managing director Paul Gray’s leadership, continuing a success story which goes back to 1833 when Flick & Son was founded by Samuel Flick.”

Mr Gray became managing director in April 2018.

Mr Watson, who lives in Aldeburgh, said he was optimistic about the future.

“There is always going to be local, high street estate agents providing a personal service for people wanting to sell and buy properties, despite the growth of online.

“Estate agency is a lot more personal now. It is down to individuals who work hard for their clients.

“I have been living in Aldeburgh more than 20 years.

“We have a very good area of the property market where there is always demand.

“The property market goes up and down, but demand is always strong in the east Suffolk coastal area.

“There is always more people wanting to come here than there are properties to buy.

“Homes here are popular with local people and others moving here from other parts of the country.”